Friday, May 9, 2014

Grants For Non-Profits On the Rise

In 2013, grants to non-profit organizations increased by 21 percent, according to a survey by GrantStation. GrantStation is a Minneapolis based organization that helps nonprofit organizations find grant sources. The organization also provides assistance to nonprofits with the grantseeking process.

The GrantStation survey also revealed that grants for organizations with government funding was 400 percent larger than those with no government funding. But the size of the grants is getting smaller. More than half of the grants awarded were $100,000 or less. Only about 17 percent reached the $500,000 and above level.Reason for the increase

The increase in the number of grants comes from nonprofits applying for more grants from private foundations and other organizations. Since government grants are getting smaller, they are reaching out to other sources for financial support. In 2013, the largest portion of grants were awarded by private foundations.

Good news or bad?

Whether this is good news or bad depends on how you look at it. While the increase in the number of actual grants awarded has increased, giving more small businesses an opportunity to receive a grant, the smaller amounts of the grants are not necessarily good news. Small businesses in particular struggle, especially nonprofits. The smaller size of the grants will have an impact on them.